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Dynasty is on the ground floor of a roll-up-like venture grabbing RIAs inside the largest accounting firms

Atlanta-based Method will parachute in to take over operational and management control of wealth managers providing advisory expertise their CPA-firm parents may lack

Author Lisa Shidler April 12, 2012 at 4:46 AM
1 Comment
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Tony Wood: We may be a minority owner, but we want to manage the firm and develop a business growth plan for them.

Charles Roame


Dan Inveen


Mark Tibergien


Shirl Penney


Tony Wood

Elmer Rich III

Elmer Rich III

April 12, 2012 — 7:03 PM

Cautionary note — the rollup model, driven by spreadsheeted financial goals has proven a failure in many services areas. Specifically, in retirement plan TPAS, it has been, pretty much, a failure and destroyer of value for owners and buyers.

The incentives are all wrong. The fund raisers/acquirers are transaction focused (buy low sell high), to raise more money, but the businesses demand good income and balance sheet practices. Funder’s exit strategies and return expectations can’t be met, etc.

Also, transactional goals and relationship goals and time frames are hostile to each other. Now, of course, every acquirer says they’re “buy and hold and build” — ain’t true. Acquisition capital is too expensive.

Sadly, TPA owners that sold for promise of appreciated shares of some other entity often lost everything or bought the businesses back for pennies on the dollar. This time it may be different, of course. Or not.

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Mentioned in this article:

Tiburon Strategic Advisors
Consulting Firm
Top Executive: Charles Roame

Callan Associates Inc.
Manager Research
Top Executive: Ronald D. Peyton

Pershing Advisor Solutions
Asset Custodian
Top Executive: Mark Tibergien

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